Business, 25.10.2019 19:43 mrtroll9145

On october 2, 2017, laplante company sold $6,000 of its elite camping gear (with a cost of $3,600) to lynch outfitters. as part of the sales agreement, laplante includes a provision that if lynch is dissatis- fied with the product, laplante will grant an allowance on the sales price or agree to take the product back (although returns are rare, given the long-term relationship between laplante and lynch). lynch expects total allowances to lynch to be $800. on october 16, 2017, laplante grants an allowance of $400 to lynch because the color for some of the items delivered was a bit dif- ferent than what appeared in the catalog. instructions(a) prepare journal entries for laplante to record (1) the sale on october 2, 2017, (2) the granting of the allowance on october 16, 2017, and, (c) any adjusting required on october 31, 2017 (when laplante prepares financial statements). laplante now estimates additional allowances of $250 will be granted to lynch in the future.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 20:10

Russell's is considering purchasing $697,400 of equipment for a four-year project. the equipment falls in the five-year macrs class with annual percentages of .2, .32, .192, .1152, .1152, and .0576 for years 1 to 6, respectively. at the end of the project the equipment can be sold for an estimated $135,000. the required return is 13.2 percent and the tax rate is 23 percent. what is the amount of the aftertax salvage value of the equipment assuming no bonus depreciation is taken

Answers: 2

Answer

Business, 22.06.2019 22:50

Which of these makes a student loan different from other types of loans

Answers: 1

Answer

Business, 23.06.2019 01:20

Problem 8-6 cullumber company is a multi product firm. presented below is information concerning one of its products, the hawkeye. date transaction quantity price/cost 1/1 beginning inventory 2,700 $17 2/4 purchase 3,700 26 2/20 sale 4,200 43 4/2 purchase 4,700 33 11/4 sale 3,900 47 calculate average-cost per unit. (round answer to 4 decimal places, e.g. 2.7613.) average-cost per unit $ link to text compute cost of goods sold, assuming cullumber uses: (round average cost per unit to 4 decimal places, e.g. 2.7631 and final answers to 0 decimal places, e.g. 6,548.) cost of goods sold (a) periodic system, fifo cost flow $ (b) perpetual system, fifo cost flow $ (c) periodic system, lifo cost flow $ (d) perpetual system, lifo cost flow $ (e) periodic system, weighted-average cost flow $ (f) perpetual system, moving-average cost flow $ click if you would like to show work for this question: open show work

Answers: 3

Answer

Business, 23.06.2019 02:10

Which of the following best explains the purpose of a supply schedule? a. to calculate how much time it takes for distribution. b. to indicate how supply and demand relate to price. c. to show the relationship between quantity supplied and prices. d. to demonstrate how the supply decreases as price increases.

Answers: 1

Answer

You know the right answer?

On october 2, 2017, laplante company sold $6,000 of its elite camping gear (with a cost of $3,600) t...

Questions